Virat Kohli, Puma to collaborate for new athleisure brand
German sportswear giant Puma is looking to reap the benefits of its multi crore deal with Indian cricket team captain Virat Kohli by launching a new athleisure brand later this year.
Puma had signed up Virat Kohli as brand ambassador this year for Rs 100 crore (approx $15.7 million). The two will now collaborate to launch an exclusive brand that will cater to the youth.
As per Euromonitor report, the athleisure market in India is expected to continue to post a strong retail value CAGR of 12% with sales expected to touch Rs 540 billion by 2020. And with all major sportswear firms like Nike and Adidas struggling in the Indian market, Puma is in the perfect position to dominate the market by using Kohli’s image to further boost its presence in the country.
"Virat's athleisure brand will be present in catagories such as footwear, apparels and accessories," said Abhishek Ganguly, managing director of Puma India to the Economic Times.
"Ours is a partnership agreement in which we will do certain things together and both sides have a say in the game," said Ganguly, adding, "We will own the distribution network and the product expertise. However, like it happens in any partnership, he gets a few things on the table, while we get a few things."
"It is Virat's brand which will have a special logo, brand name and brand identity. He will be seen donning the brand and is actively involved in the creation of the products," said Ganguly.
Indian celebrities hold massive influence in trends related to fitness and fashion in the country. It is a profitable market opportunity to create authentic brands with celebrities. Some of the popular celebrity brands in India in the athleisure segment are bollywood actor Hrithik Roshan’s HRX and cricketer Yuvraj Singh’s YWC amongst others.
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